Date: Fri, May 16, 2025 | 03:50 PM GMT
The cryptocurrency market has seen a much-needed revival in recent weeks. After a brutal Q1 that saw Ethereum (ETH) fall by 45%, the second-largest crypto has now surged over 62% in the past month and is trading near $2,600 — its highest level in months. This renewed bullish sentiment is not just limited to ETH. It’s lifting altcoins across the board, including Hyperliquid (HYPE).
HYPE has gained over 74% in the last month. While this rally alone is a strong sign of bullish interest, technical analysis suggests the token might be on the verge of a major breakout.
Testing a Classic Rounded Bottom Resistance
On the daily chart, HYPE has formed a textbook rounded bottom — a classic bullish reversal pattern.
As shown in the chart below, the rounded bottom began forming after HYPE was rejected from the neckline resistance zone around $28.43 in early February. This rejection led to a deep correction of -67%, sending the token down to a low of $9.32 by April 7. Since then, HYPE has staged an impressive 196% comeback, rising steadily back toward the same resistance zone it previously failed to break.
Currently trading at $27.64, HYPE is just below the neckline level. If it successfully breaks above $28.43, it would confirm the pattern and potentially trigger a fresh rally. The breakout target based on the height of the pattern suggests a move toward $35.17 — a level that also aligns with its all-time high, representing an additional 28% upside from current prices.
What’s Next for HYPE?
This setup places HYPE at a critical technical juncture. A breakout above the neckline could not only confirm the rounded bottom but also signal a broader trend reversal. However, as always in crypto, confirmation is key — a decisive close above $28.43 with a retest would solidify the bullish case.
Ultimately, HYPE’s next move will likely depend on the overall health of the market. Continued strength in Ethereum and Bitcoin could act as a tailwind, helping altcoins like HYPE break through key resistance zones and enter price discovery.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
